Public Sector Pension Investment Board Increases Holdings in Shake Shack Inc. (NYSE:SHAK)

Public Sector Pension Investment Board boosted its position in Shake Shack Inc. (NYSE:SHAK) by 2.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,831 shares of the company’s stock after purchasing an additional 2,000 shares during the period. Public Sector Pension Investment Board owned about 0.20% of Shake Shack worth $8,755,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Shake Shack in the third quarter valued at $41,000. Quest Partners LLC purchased a new stake in shares of Shake Shack in the 2nd quarter worth about $38,000. Kimelman & Baird LLC purchased a new stake in shares of Shake Shack in the 2nd quarter worth about $45,000. Covestor Ltd grew its stake in Shake Shack by 41.6% in the 3rd quarter. Covestor Ltd now owns 698 shares of the company’s stock valued at $72,000 after acquiring an additional 205 shares during the last quarter. Finally, CWM LLC increased its holdings in Shake Shack by 24.7% during the 2nd quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $94,000 after acquiring an additional 207 shares in the last quarter. 86.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Daniel Harris Meyer sold 22,691 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $124.47, for a total value of $2,824,348.77. Following the sale, the director now owns 437,646 shares in the company, valued at approximately $54,473,797.62. This represents a 4.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Katherine Irene Fogertey sold 321 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $98.57, for a total transaction of $31,640.97. Following the transaction, the chief financial officer now directly owns 36,822 shares in the company, valued at $3,629,544.54. The trade was a 0.86 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 63,433 shares of company stock worth $7,654,856. 9.73% of the stock is currently owned by insiders.

Shake Shack Stock Performance

Shares of SHAK stock opened at $133.55 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98. The company’s fifty day moving average price is $115.98 and its two-hundred day moving average price is $102.14. The firm has a market capitalization of $5.67 billion, a P/E ratio of 785.59, a P/E/G ratio of 3.01 and a beta of 1.81. Shake Shack Inc. has a 12 month low of $59.94 and a 12 month high of $134.90.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The business had revenue of $316.92 million for the quarter, compared to analysts’ expectations of $316.03 million. During the same quarter in the previous year, the firm posted $0.17 earnings per share. The company’s revenue was up 14.7% compared to the same quarter last year. On average, research analysts anticipate that Shake Shack Inc. will post 0.82 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SHAK. Piper Sandler downgraded shares of Shake Shack from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $121.00 to $114.00 in a report on Monday, August 19th. TD Cowen reiterated a “buy” rating and set a $125.00 target price on shares of Shake Shack in a report on Wednesday, September 18th. Oppenheimer raised their price target on Shake Shack from $122.00 to $135.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Truist Financial upped their price objective on Shake Shack from $127.00 to $144.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $115.00 price objective on shares of Shake Shack in a research report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $112.94.

Shake Shack Company Profile

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.